Fastenal (NASDAQ:FAST) had its price objective increased by analysts at Stephens from $54.00 to $62.00 in a research report issued on Thursday, January 18th. The firm currently has a “buy” rating on the stock. Stephens’ target price would indicate a potential upside of 7.47% from the stock’s previous close.

A number of other research firms have also recently commented on FAST. Zacks Investment Research cut shares of Fastenal from a “buy” rating to a “hold” rating in a research report on Tuesday, January 16th. Credit Suisse Group reissued an “outperform” rating and set a $61.00 target price (up previously from $52.00) on shares of Fastenal in a research report on Tuesday, January 9th. BMO Capital Markets reissued a “hold” rating and set a $57.00 target price on shares of Fastenal in a research report on Tuesday, January 9th. Stifel Nicolaus reissued a “hold” rating and set a $51.00 target price on shares of Fastenal in a research report on Monday, December 11th. Finally, Robert W. Baird reissued a “buy” rating on shares of Fastenal in a research report on Wednesday, January 17th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Fastenal has a consensus rating of “Buy” and an average price target of $53.29.

Shares of Fastenal (NASDAQ:FAST) traded up $0.59 on Thursday, hitting $57.69. 2,624,542 shares of the stock traded hands, compared to its average volume of 2,670,000. Fastenal has a 52-week low of $39.79 and a 52-week high of $57.81. The stock has a market cap of $16,580.00, a PE ratio of 28.70, a PEG ratio of 1.66 and a beta of 1.09. The company has a debt-to-equity ratio of 0.20, a current ratio of 5.51 and a quick ratio of 2.40.

Fastenal (NASDAQ:FAST) last announced its quarterly earnings results on Wednesday, January 17th. The company reported $0.45 earnings per share for the quarter, hitting the consensus estimate of $0.45. Fastenal had a net margin of 13.18% and a return on equity of 27.39%. The firm had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.08 billion. During the same quarter in the prior year, the company earned $0.40 EPS. The company’s revenue was up 14.8% compared to the same quarter last year. equities analysts expect that Fastenal will post 2.46 earnings per share for the current fiscal year.

In other news, insider Terry Modock Owen sold 30,000 shares of the stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $48.02, for a total value of $1,440,600.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider James C. Jansen sold 10,000 shares of the stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $48.50, for a total transaction of $485,000.00. Following the completion of the sale, the insider now owns 22,588 shares in the company, valued at approximately $1,095,518. The disclosure for this sale can be found here. Insiders sold 62,746 shares of company stock worth $3,061,819 in the last quarter. Company insiders own 0.55% of the company’s stock.

Large investors have recently added to or reduced their stakes in the company. Commonwealth Bank of Australia lifted its holdings in Fastenal by 44.9% during the second quarter. Commonwealth Bank of Australia now owns 2,429 shares of the company’s stock valued at $104,000 after purchasing an additional 753 shares in the last quarter. Fuller & Thaler Asset Management Inc. acquired a new position in Fastenal in the 3rd quarter valued at $114,000. Cable Hill Partners LLC acquired a new position in Fastenal in the 3rd quarter valued at $126,000. Krilogy Financial LLC increased its stake in Fastenal by 2.0% in the 2nd quarter. Krilogy Financial LLC now owns 3,530 shares of the company’s stock valued at $154,000 after buying an additional 70 shares during the period. Finally, LaFleur & Godfrey LLC acquired a new position in Fastenal in the 4th quarter valued at $202,000. Hedge funds and other institutional investors own 84.60% of the company’s stock.

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About Fastenal

Fastenal Company is engaged in wholesale distribution of industrial and construction supplies. The Company is engaged in fastener distribution, and non-fastener maintenance and supply business. As of December 31, 2016, it distributed these supplies through a network of approximately 2,500 stores. Its customers are in the manufacturing and non-residential construction markets.

Analyst Recommendations for Fastenal (NASDAQ:FAST)

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